Barring any interruptions within the next hour, EURGBP is about to form a bullish doji on the 8H charts.
Taking a look zoomed out on the daily charts, the pair has been ranging between 0.83 and 0.88 since November. If it continues this bullish intrachannel run, history shows it will likely overshoot the mean created in that time period.
If the bullish doji does form on the 8H charts I'll likely enter long when spreads settle down from rollover provided the price hasn't already moved significantly in one direction or the other and target around 0.86
Taking a look zoomed out on the daily charts, the pair has been ranging between 0.83 and 0.88 since November. If it continues this bullish intrachannel run, history shows it will likely overshoot the mean created in that time period.
If the bullish doji does form on the 8H charts I'll likely enter long when spreads settle down from rollover provided the price hasn't already moved significantly in one direction or the other and target around 0.86